Companies and Brands
Enron Corporation
Also Known As Enron
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An American energy, commodities and services company formed in 1985 from the merger of Houston Natural Gas and InterNorth under founding chairman and CEO Kenneth Lay. By 2000 it claimed nearly 101 billion dollars in annual revenue and roughly 20,600 staff, before widespread accounting fraud, including mark-to-market accounting and off-balance-sheet special purpose entities used to conceal billions of dollars in debt, brought it to the largest corporate bankruptcy in United States history to that date on December 2, 2001.
Facts
Company TypeEnergy, commodities and trading conglomerate (historical, dissolved following its 2001 bankruptcy) 1 Founded Year Headquarters Cross-Tradition Connections
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The company this 2001 scandal and bankruptcy destroyed.
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Sources
1. Wikipedia, Enron
Wikipediaopening paragraphQuote, opening paragraph
Before its bankruptcy on December 2, 2001, Enron employed approximately 20,600 staff and was a major electricity, natural gas, communications, and pulp and paper company, with claimed revenues of nearly $101 billion during 2000.
1. Wikipedia, Enron
Wikipedia, Kenneth Lay
Wikipedia, Kenneth Lay
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